CKGSB Knowledge - China Business and Economy

BLUEPRINT TO SUCCESS

China has taken the lead in the global shipbuilding industry, followed closely by South Korea and Japan. Will they be able to hold on to their top spot?

The H1416, the largest container vessel in the world, was launched from Shanghai’s Wai Gao Qiao shipyard last year and the world’s largest Liquefied Natural Gas (LNG) carrier is currently under construction in the northeast China port of Dalian. In fact, more than four out of every 10 of the large ships sailing around the globe today were made in China.

It appears to be full steam ahead as China aims to take an even greater lead in the world shipbuilding industry. “China is now the world’s biggest shipbuilding nation,” said Kevin Oates, managing director of Marine Money, at the 2019 China Ship Finance and Offshore Summit in Shanghai. But there are also some difficult crosscurrents that China has to overcome if it is to consolidate its hold on the top position in global shipbuilding, including technology where it is in some cases behind, and costs where its main shipbuilders suffer from over-staffing.

In the lead

In 2018, the world merchant fleet totaled 1 billion deadweight tons (DWT)—a

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